The Palatka daily news. (Palatka, Fla.) 1884-1888, 1887-02-23
BUCKET SHOP RUNNERS.
DRESSY LOAFERS WHO LURE THE
UNWARY TO FINANCIAL RUIN.
Schemes to Make Money Through the
Greed and Innocence of the Uninitiated
Gambler-Sly Thieves In the Stock
Market.

dressed men, WHO were never
known to buy a cents worth of stock; who
are not brokers, either regular or Of the
curbstone variety, nor yet brokers' clerks,
but who nevertheless hang around the lively
ticker and talk giibly of stocks and mar
gins and puts and calls as the busiest oper-
ator in the market, can be seen any day in
Wall street. What they do has long been
a mystery to many people ON the street, "
and how they contrive to always be so well
supplied with ready money is something
which has perplexed those to whom their
faces are familiar as the dial of Trinity
church clock.
These individuals have become more and
more numerous of recent years To the
initiated they are known as ''touts, - which
is Wall street slang for the givers of tips"
points on the prospective value Of
stocks Many a shorn lamb has learned
from bitter experience that the tout is
not infallible in his representations. The
methods of this parasite are peculiar and in
teresting. The way i'll which he swindles his
unsuspecting victims was well illustrated
the other day in a Broad street bucket shop
A reporter happened into the place, and
there saw one of the neatest swindlers who
ever went UNPUBLISHED.
A SUCCESSFUL "roUT."
He was one of the most successful ''touts"
on the street. His clothes were of the loud
est check obtainable. His tall hat was very
shiny. His watch chain weighed about a
ton-more or less He carried a thick Eng
lish club with an enormous buck horn
crutch His mustache large, and of
that peculiar greenish black color often
seen gamblers and confidence men. 1t
was about l O'Clock in the afternoon, and
the place was full of patrons. The tout
was talking in a loud tone to the bucket shop
proprietor. They were both laughing, and
appeared excited.
s'Where'd you get the tip" asked the
bucket shop man.
The tout whispered in his ear. The
bucket shop man stood off few feet and his
face wore an expression of astonished adj
miration-
Really he asked; 81. that straight,
Why, he's the biggest man in the board"
eyes, | know; big friend of mine; often
gives 'em to me; III let you in; sure thing;
so long, you LATER and the man with
the big green mustache turned to go
Before he could reach the street. however,
a lamb, who had caught scraps of the con-
versation, intercepted him.
II beg your pardon, sir, " began the lamb
with an apologize bleat, ''but | understand
you have a good tip on the market, sir"
The tout seemed annoyed.
"yho told you l had tipS'' he asked,
sand what if | have,'
eff you will give it to me 1 will make it
all right" said the lamb.
Glow l don't understand you"
~ will give you half make by using the
Information"
''Wm you deposit $50 with the gentle
man here a guarantee of good faith"
Eyes " said the lamb, ''but of course if
don't win you will get nothing"
Certainly" said his tutOrship, ''all I
want is that you will not give the tip away"
The lamb agreed, and deposited five $40
bills. Then the sharper took him aside and
whispered to him that if he would buy 100
shares of b. F. and III. stock at the market
price it would shortly jump from three to
five points, owing TO II consolidation tbout
to be made with the C. c. and b. p r. r.
He had just received this information from
one of the directors of the latter road.
CERTAIN TO WIN.
Shortly after this the tout and the toutee
went to obscure bucket shop, and there
the victim bought his 100 shares on 3 per
cent, margin. This only the first part
of the tout's little game. As soon as he saw
the money paid for the margin he excused
himself and went around the corner to
another bucket shop ON New street.
There, after throwing out some dark hints
to the proprietor, he caught another gud-
geon. Almost the same conversation as
was had with victim No. l was gone through
with, the only important difference being
that this time the advice was to sell 100
shares of b. +. * III. The second lamb
meekly went to the slaughter house recon-
mended by the tout, and deposited his three
per cent margin. This completed the tout's
work. He was now secured no matter which
way the market went. In gamblers slang
he had ''sure thing" The cat could
jump in either direction, but he was certain
to reap profit. The tout went to dinner
with easy mind, and slept that night
the sleep of a little child, free from all caro-
and worry.
As it happened, in few days a rumor
was circulated that foreclosure proceedings
were 10 be begun against the B. F. and FL.
r. r., and the price of its stock was ham
mered down five and one half points. Tho
tout was promptly on hand at the bucket
shop, where lamb No. was eagerly watch
ing the quotations He was told to close out
He did at once and made a profit of
about $500. This he divided with the tout
Lamb No. l of course lost all that he had
put up, but somebody had to lose for the
tout to win. That is part of the game
The tout is as INSCRIPTIONS in his methods
the ''bunco steerer," and his profits are
much greater and surer. He runs no risk
of going 10 the penitentiary. He makes
many enemies, but always gains a friend at
the same time. This friends turn to lose
comes later. The tout is responsible for
erty stricken homes. He is in league with
all the bucket shop swindlers. He has as
many ''cappers'' or ''ropers in as any skin
gambling den, and he goes about his work
scientifically. He always has the excuse
when he is reproached by those he has
ruined that he himself was taken in and that
he gave the tip honestly.-New York Star.
The Great American Desert
When railroads first touched the Missis-
sippi river at Burlington-about 1852 or
1858 il must have been-a great celebration
was held ON the east bank and commend
able gloritication INDUCED in. The speakers
were Stephen A. Douglas and Lewis Cas-.
Mr.. Cas- in his speech referred 10 tie fact
that, according TO all school histories and
Biographies previous TO that time they must
have been very near the great American
desert; but, he said, 'as this desert constantly
recedes as we approach it it will probably
be found there is no desert at all
"a